MoShawn Posted May 17, 2011 Posted May 17, 2011 Can anyone clarify the requirement in PPA for a DB sponsor to post the Schedule SB on an "intranet used for the purpose of communicating with employees" if it has one? There has been no guidance from DOL regarding this that we are aware of, and now have a client asking the question.
Andy the Actuary Posted May 17, 2011 Posted May 17, 2011 It would seem you would post the same crud on the Intranet that is publicly available on EFAST2 website. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Calavera Posted May 18, 2011 Posted May 18, 2011 It appears you should post 5500 and Schedule SB (no other schedules or attachments). In addition you may mention it in the annual funding notice. APPENDIX A TO §2520.101-5-- SINGLE-EMPLOYER PLANS ANNUAL FUNDING NOTICE Right to Request a Copy of the Annual Report ...[if the Plan’s annual report is available on an Intranet website maintained by the plan sponsor (or plan administrator on behalf of the plan sponsor), modify the preceding sentence to include a statement that the annual report also may be obtained through that website and include the website address.]...
Andy the Actuary Posted May 18, 2011 Posted May 18, 2011 It appears you should post 5500 and Schedule SB (no other schedules or attachments).In addition you may mention it in the annual funding notice. APPENDIX A TO §2520.101-5-- SINGLE-EMPLOYER PLANS ANNUAL FUNDING NOTICE Right to Request a Copy of the Annual Report ...[if the Plan’s annual report is available on an Intranet website maintained by the plan sponsor (or plan administrator on behalf of the plan sponsor), modify the preceding sentence to include a statement that the annual report also may be obtained through that website and include the website address.]... Okay, you had to know this question would asked by a Missourian: Where does "it appear?" Is this your personal opinion? Did the DOL state this informally at a meeting? Was this in some consulting firm's newsletter? The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Effen Posted May 19, 2011 Posted May 19, 2011 Coming onto this train a bit late, but ... Am I correct that the AFN requires a statement that the "Plan’s annual report is available on an Intranet website" which I guess doesn't mean it has to be posted there, but it must be available via the intranet website. However, PPA requires that the actuarial information included in the annual report "shall be displayed on any intranet website maintained by the plan sponsor" which means that the 5500 SB needs to be posted on the intranet website. Andy, is this why you were reminding us that you are from Missouri? Are you arguing that there is no requirment to post the entire 5500 in the intranet website? This appears to be what others are saying, but it is far from clear. Is my understanding correct? The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Calavera Posted May 24, 2011 Posted May 24, 2011 It appears you should post 5500 and Schedule SB (no other schedules or attachments).In addition you may mention it in the annual funding notice. APPENDIX A TO §2520.101-5-- SINGLE-EMPLOYER PLANS ANNUAL FUNDING NOTICE Right to Request a Copy of the Annual Report ...[if the Plan’s annual report is available on an Intranet website maintained by the plan sponsor (or plan administrator on behalf of the plan sponsor), modify the preceding sentence to include a statement that the annual report also may be obtained through that website and include the website address.]... Okay, you had to know this question would asked by a Missourian: Where does "it appear?" Is this your personal opinion? Did the DOL state this informally at a meeting? Was this in some consulting firm's newsletter? Okay (should've been more accurate), it appears from my reading of the Section 504 of PPA, and from what others were saying http://benefitslink.com/boards/index.php?s...c=43956&hl=
Andy the Actuary Posted May 24, 2011 Posted May 24, 2011 It appears you should post 5500 and Schedule SB (no other schedules or attachments).In addition you may mention it in the annual funding notice. APPENDIX A TO §2520.101-5-- SINGLE-EMPLOYER PLANS ANNUAL FUNDING NOTICE Right to Request a Copy of the Annual Report ...[if the Plan’s annual report is available on an Intranet website maintained by the plan sponsor (or plan administrator on behalf of the plan sponsor), modify the preceding sentence to include a statement that the annual report also may be obtained through that website and include the website address.]... Okay, you had to know this question would asked by a Missourian: Where does "it appear?" Is this your personal opinion? Did the DOL state this informally at a meeting? Was this in some consulting firm's newsletter? Okay (should've been more accurate), it appears from my reading of the Section 504 of PPA, and from what others were saying http://benefitslink.com/boards/index.php?s...c=43956&hl= Glad to see I waffled on my earlier position, as this now qualifies me to run for public office. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
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